it could transcend any short-term issues with the economy. but last year, we had a warm winter and sales of uggs were crushed by the weather. deckers were forced to raise prices drastically because of sheepskin. higher prices, lower sales. quarter after quarter things got worse. when deckers reported latest results on october 25th, the trends were horrid. the stock pole-axed. there was one bright spot. management indicated that sheepskin prices have been falling, which should mean the horrific declines in deckers' gross margins, what they make after the cost of sales, are at an end with the possibility of margin expansion as we head into the new year. now, ever since the stock got pummeled after the latest quarter, deckers has been coming back with a vengeance, but it's not because of better gross margins. what's the real reason for this rally? deckers has reached a point where the expectations got so low and the stock became so hated, there was nowhere left for it to go but up. half the float has been sold short. that's insane, insanely high